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Cryptocurrencies:  6,095Markets:  24,560Market Cap:  $353,498,756,92324h Vol:  $86,383,164,482BTC Dominance:  61.0%
Market Cap:  $353,498,756,92324h Vol:  $86,383,164,482BTC Dominance:  61.0%Cryptocurrencies:  6,095Markets:  24,560

Measure That Signaled “Prolonged” Bitcoin Runs Is About to Return

Measure That Signaled “Prolonged” Bitcoin Runs Is About to Return

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Measure That Signaled “Prolonged” Bitcoin Runs Is About to Return

Bitcoinist3 days ago
Published on August 02, 2020 04:00 GMT+0edited on August 02, 2020 06:31 GMT+0

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  • Bitcoin has seen extreme strength over the past seven days, gaining 21% against the U.S. dollar.
  • As of this article’s writing, the leading cryptocurrency trades for $11,800 and seems poised to push higher.
  • The recent price action is starting to convince traders that a longer-term bull trend is in the works.
  • This can be corroborated by a number of on-chain and technical signs that were last seen at the start of Bitcoin’s bull trend.

Pivotal Bitcoin Bull Signal Appears

Bitcoin is printing a variety of signals that were last seen at the start of historical macro rallies, analysts have said.

One trader shared the chart below on August 1st, noting that three pivotal moving averages are set to trend higher on Bitcoin’s one-week chart. These are the 26-month Hume moving …